BNTX - Why Pfizer BioNTech Novavax and Vaxart Stocks Are Sinking Today
Good news for some companies often means bad news for others. That's what we're seeing Friday as the stocks of several COVID-19 vaccine makers sank following the announcement by Merck (NYSE: MRK) and Ridgeback Biotherapeutics of positive results from a late-stage study of an oral COVID-19 treatment.
Shares of Pfizer (NYSE: PFE) were down by 1.6% as of 11:20 a.m. EDT after having declined by as much as 3.1% earlier in the session. Pfizer's COVID vaccine partner, BioNTech (NASDAQ: BNTX) , fared even worse, with its stock sliding by 11.9%.
A couple of companies that have COVID-19 vaccine candidates that aren't on the market yet also felt the sting of the news from Merck and Ridgeback. Novavax (NASDAQ: NVAX) stock was trading 17% lower, while shares of Vaxart (NASDAQ: VXRT) dropped by 12.3%.
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Why Pfizer, BioNTech, Novavax, and Vaxart Stocks Are Sinking Today